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Jan 31, 2013
01/13
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CNBC
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senate is expected to vote this afternoon on a bill to suspend the debt ceiling for -- why not suspend it indefinitely? the house passed the measure last week. the senate version includes several republican amendments, matching spending cuts, every dollar increase in the ceiling and that's not expected to get passed. it will suspend it to may the 19th when it will be raised by the amount the treasury borrows in the interim. why -- greg is with us. greg is the economist. can we just get rid of the debt ceiling? it's a real brawl. >> just deep six that sucker like no other country deals with this it ottic device. hey, i'm going to borrow some money, but i'll think twice over whether i'm going to pay the bill when it comes. >> what if it was the founding father himself who said i think we ought to have a debt ceiling so as to avoid fiscal recklessness? >> well, in fact, the debt ceiling, the reason we have one is because up until 100 years ago, we voted on every bond issue individually. so you think it's bad now, just imagine if we had had that situation. but looking forward, though, this
senate is expected to vote this afternoon on a bill to suspend the debt ceiling for -- why not suspend it indefinitely? the house passed the measure last week. the senate version includes several republican amendments, matching spending cuts, every dollar increase in the ceiling and that's not expected to get passed. it will suspend it to may the 19th when it will be raised by the amount the treasury borrows in the interim. why -- greg is with us. greg is the economist. can we just get rid of...
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every few days the ongoing political uncertainty over the budget over the debt ceiling does not help the government shutdown is bad enough but phil you to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy but also the entire global economy. in the meantime in less than two weeks america will run out of money unless lawmakers agree to raise the debt ceiling the failure will lead to devastating effects warning from the u.s. treasury department's predicting an unprecedented default with catastrophic consequences with the collapse of the american economy sending shock waves across the globe and doing with the financial crisis and recession was the two thousand and eight meltdown. the u.s. government shutdown is taking its toll on the president's plans as well was barack obama forced to cancel a trip to asia and mr summits the federal stoppage as place hundreds of thousands of workers on paid leave is costing the american economy at least three hundred million dollars every day hitting businesses and consumer confidence qantas leaving fro
every few days the ongoing political uncertainty over the budget over the debt ceiling does not help the government shutdown is bad enough but phil you to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy but also the entire global economy. in the meantime in less than two weeks america will run out of money unless lawmakers agree to raise the debt ceiling the failure will lead to devastating effects warning from the u.s. treasury department's...
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Oct 8, 2013
10/13
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MSNBC
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every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying the affordable care act to raising the debt ceiling. you just did it. >> no, i mean, i -- you're -- i'm not -- we've got two issues here. the continuing resolution, the proposals i talked to about the affordable care act are connected with the continuing resolution. what i've told you with the debt ceiling is that we ought to focus on bringing spending reductions to the table like we have done with every major -- every president over the last 30 years. we ought to do it now, too. frankly, i think, though, it's way bigger than that for america. we're at a point now where the president and harry
every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying...
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Jan 15, 2013
01/13
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CNBC
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every year we pick a new city to explore. but thanks to hotwire, this year we got to take an extra trip. because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee their low prices. so, where to next? how about there? ♪ h-o-t-w-i-r-e... ♪ hotwire.com sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. >>> just remind you at the moment, the british
every year we pick a new city to explore. but thanks to hotwire, this year we got to take an extra trip. because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee their low prices. so, where to next? how about there? ♪ h-o-t-w-i-r-e... ♪ hotwire.com sven gets great rewards...
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Jan 29, 2013
01/13
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CNBC
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we ask do you think congress is going to increase the debt ceiling every time it's reached, refuse to raise it at some point and don't know? you can see 86% are saying that congress will raise the debt ceiling every time it's reached this year, when i think about some of the reasons why stocks have gotten higher because i think that thread along with the fiscal cliff has come out of the market and that there's overwhelming sentiment that coss i solve the get problem. we asked wall street to grade our treasury secretary going out and one coming in. you can see a pretty strong sentiment that he was a seed secretary with a 2.2. jack lew, the sentiment there. 2.0. one more thing on the deficit i just want to say and maybe this is worthy of discussion here. i think this is a sign that things have improved, at these economists and guys on wall street are saying we should solve the deficit and do it now. i think if things were as bad as they were say the last couple years there might be less sense that we urgently need to fix the deficit problem. mike england from action economics said if we
we ask do you think congress is going to increase the debt ceiling every time it's reached, refuse to raise it at some point and don't know? you can see 86% are saying that congress will raise the debt ceiling every time it's reached this year, when i think about some of the reasons why stocks have gotten higher because i think that thread along with the fiscal cliff has come out of the market and that there's overwhelming sentiment that coss i solve the get problem. we asked wall street to...
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Jan 21, 2013
01/13
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CNBC
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the debt ceiling may get raised, but it's not being tackled long-term. >> it seems every single time consistently we get the opposite outcome. which means some areas are consistent and it raises debt levels going forward. >> it seems to me as though we can't fix this one because democratically it's not possible. why? because there are so many verses who are automatically vote to increase the debt because the number of people who own entitlements or benefits is relatively high. and i think you're seeing this failure both in the u.s., in germany and to an extent in the uk. >> the trouble is for all of those economies maybe some of the european ones are under pressure by the government. but the problem is, if you look at issues in the u.s., they're just so low. there's no ability to cut in the long-term. how do you push through entitlement reform and address those issues, especially if there's no market pressure right now? >> my sense is that you don't. i don't understand how that can be achieved and, therefore, i suppose what i struggle with is what solution can the government find? th
the debt ceiling may get raised, but it's not being tackled long-term. >> it seems every single time consistently we get the opposite outcome. which means some areas are consistent and it raises debt levels going forward. >> it seems to me as though we can't fix this one because democratically it's not possible. why? because there are so many verses who are automatically vote to increase the debt because the number of people who own entitlements or benefits is relatively high. and i...
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Jan 9, 2013
01/13
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CNBC
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i want to see one dollar of entitlement cuts for every dollar the debt ceiling is raised. >> you're not normally this mean, this nasty. >> i'm with you and you inspire me. >> you know what, we are coming together somewhere in the middle. you know what we're doing in a word, two words, we're rising above, dude. you got your pen? get you a pen. we're rising above. where's yours? we'll get you one. >> byron, i want to go through some of your predictions. >> surprises. >> surprise predictions, surprises that could come up over the course of next year. you spend a lot of time trying to figure out what the market's doing and consensus is and where it could be taken off guards in some places. i want you to react. start with number 10, that eu structural problems we main unresolved. when i first heard that, i don't think they will be unresolved. you're right, the market has bid things it's looking like the world is better. >> last year, all the european markets were up and europe was in a semi-recession and all the european markets were up semi-20% and i have them down this year in reaction. >>
i want to see one dollar of entitlement cuts for every dollar the debt ceiling is raised. >> you're not normally this mean, this nasty. >> i'm with you and you inspire me. >> you know what, we are coming together somewhere in the middle. you know what we're doing in a word, two words, we're rising above, dude. you got your pen? get you a pen. we're rising above. where's yours? we'll get you one. >> byron, i want to go through some of your predictions. >> surprises....
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Jan 16, 2013
01/13
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CNBC
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treasuries tapping government workers' retirement funds to avoid hitting the debt ceiling. the treasury previously estimated the move would give it around $156 billion in additional borrowing capacity. it says retirees will still receive their benefits. in a letter to the house speaker john boehner, the treasury secretary says this step has been taken before during previous debt limit impasses. several conservative republicans are set to introduce legislation to direct treasury to prioritize debt payments if congress doesn't raise the debt ceiling. >>> and president obama will unveil his gun control plan today at 11:45 eastern. he's expected to call on congress to ban military-style assault weapons and the type of high-capacity ammunition used in last month's school shooting in newtown, connecticut. the package will also include efforts to stop school bullying and invest available mental health services. may include several steps the president can take right away without congressional approval. >>> the house of representatives has passed more than $50 billion in aid for hur
treasuries tapping government workers' retirement funds to avoid hitting the debt ceiling. the treasury previously estimated the move would give it around $156 billion in additional borrowing capacity. it says retirees will still receive their benefits. in a letter to the house speaker john boehner, the treasury secretary says this step has been taken before during previous debt limit impasses. several conservative republicans are set to introduce legislation to direct treasury to prioritize...
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Dec 18, 2013
12/13
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BLOOMBERG
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house or the the senate is willing to give the president a clean debt ceiling increase. every time the president asks us to do that is a good time to try to achieve something important for the country. so with one battle almost out of the way, a new one is gearing up. democrats have no plans to negotiate over the debt limit. republican lawmakers are discussing when they hope to get out of it. february 7 is when the debt ceiling suspension negotiated in october shutdown deal expires. expect another showdown then. >> yang yang in washington. the current congress is on its way to establishing a new record, one that it cannot be proud of. congress is going to have its least productive year ever with 57 laws enacted so far. the former record low was 88. phil mattingly has more on what is being called the do-nothing congress. historic. that is the most accurate way to describe the inaction in congress. this group will clear the fewest number of loss in history. congress third time has cleared fewer than 100 laws and marks a new law for the five years president obama has been i
house or the the senate is willing to give the president a clean debt ceiling increase. every time the president asks us to do that is a good time to try to achieve something important for the country. so with one battle almost out of the way, a new one is gearing up. democrats have no plans to negotiate over the debt limit. republican lawmakers are discussing when they hope to get out of it. february 7 is when the debt ceiling suspension negotiated in october shutdown deal expires. expect...
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Feb 6, 2013
02/13
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CNBC
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. >> in our survey, 86% of participants said congress will raise the debt ceiling every time it is reached this year. is that the perception of the market right now? >> i would say that's true. i don't think anybody wants to play brinksmanship. we saw what happened in 27 and what happened the end of the year. i don't think anybody wants to go back there. interestingly enough i think the markets have adjusted to that fact. ever rip time you run to the brink of the cliff and pull back, the markets get used to it. they have adjusted to the fact that could be a possibility and dealing with the fact it's not likely to occur. >> rich, you're very bullish. >> i'm very bullish. i don't think people have noticed the united states is a growth story. we're focused on emerging markets they're a growth story. it's so wrong, it's silly. the projected earnings growth rate, you're a small cap aficionado. i bet you don't know this. the projected growth on russell 2,000 is six times from growth markets. the u.s. is a success story. >> what are the numbers? >> 17% versus 30%. >> in one year, 70% growth rate?
. >> in our survey, 86% of participants said congress will raise the debt ceiling every time it is reached this year. is that the perception of the market right now? >> i would say that's true. i don't think anybody wants to play brinksmanship. we saw what happened in 27 and what happened the end of the year. i don't think anybody wants to go back there. interestingly enough i think the markets have adjusted to that fact. ever rip time you run to the brink of the cliff and pull...
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Jan 15, 2013
01/13
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CNBC
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in the made lines the ongoing battle over the debt ceiling prompting a warning from ratings agency fitch. it's saying that the failure to raise the debt ceiling in a timely manner is going to prompt a formal review of u.s. credit ratings. however fitch does add it expects congress will ultimately approve a debt ceiling increase. also this morning the postal service plans to speed up cost-cutting and revenue boosting measures. not saying exactly what steps it's going to take although it does plan to reveal them at a later time. the service has been waiting for congressional legislation to put it on more sound financial footing. but lawmakers have been occupied with the fiscal cliff, the debt ceiling, and other pressing issues. and finally radio shack is ending its mobile phone partnership with target. the venture has been unprofitable and radio shack has been unable to negotiate more favorable terms. >>> as you know, the house is set to vote today on a $51 billion superstorm sandy package that has already turned in to a bitter battle over spending. joining us now is congressman frank pall
in the made lines the ongoing battle over the debt ceiling prompting a warning from ratings agency fitch. it's saying that the failure to raise the debt ceiling in a timely manner is going to prompt a formal review of u.s. credit ratings. however fitch does add it expects congress will ultimately approve a debt ceiling increase. also this morning the postal service plans to speed up cost-cutting and revenue boosting measures. not saying exactly what steps it's going to take although it does...
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Oct 8, 2013
10/13
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FOXNEWSW
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nobody has seriously threatened to breach the debt ceiling until the last few years. and this is our word and our good name. this is real. and the government shut done millions faced hardship in a economic shut done. every american could see their 401 cave and home values fall. and student loans rise and there could be a significant risk of a very deep recession at a time when we are still climbing our way out of at worst recession. the american people have fought too hard and too long from wuon crisis only to see one precipitate another one. the good news is over the past three rand a half years, new businesses created new jobs. we cut the deficit in half. it is coming down faster than any time in the last 50 years. america is poised to become the number one energy producer this year. this year we are pro duducing m oil than we are importing. but the uncertainty caused by one week has reconsidered businesses to think about hiring and seen mortgages held up by thousands of home buyers not sure about the economic situation. and all of this adds to it. we can't afford t
nobody has seriously threatened to breach the debt ceiling until the last few years. and this is our word and our good name. this is real. and the government shut done millions faced hardship in a economic shut done. every american could see their 401 cave and home values fall. and student loans rise and there could be a significant risk of a very deep recession at a time when we are still climbing our way out of at worst recession. the american people have fought too hard and too long from...
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Jan 3, 2013
01/13
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CNBC
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. >> you think for this debt ceiling deal, it's going to be all right to have $41 in tax hikes for every $1 in spending cuts? >> you're making a point that there's a rumor about a paper that cantor is pushing around. >> my point is the activists across the country need to get out and call out a member of congress. >> i've got to -- >> i've been at the house caucus meetings, larry, and i've heard nothing about papers from cantor or anything like that. >> i've made a couple phone calls and i don't hear anybody. >> larry, i appreciate the opportunity. >> we've given you your due and we will continue to give you your due. robert costa, as always, inside and outside of all these stories. >>> now, turning back to the fiscal cliff deal, it is done, at least for now. obviously the markets love it so far. but i've got to give you my take on this. then jared and jim will respond. i'm not thrilled with the deal, but next up i'll tell you why. [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about
. >> you think for this debt ceiling deal, it's going to be all right to have $41 in tax hikes for every $1 in spending cuts? >> you're making a point that there's a rumor about a paper that cantor is pushing around. >> my point is the activists across the country need to get out and call out a member of congress. >> i've got to -- >> i've been at the house caucus meetings, larry, and i've heard nothing about papers from cantor or anything like that. >> i've...
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Oct 8, 2013
10/13
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ALJAZAM
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. >> every night share undiscovered stories. >> we're back talking about the risks of the debt ceiling. >> jill, you help dea governmens deal with their debt issues. what happens when states go into default? >> usually it's not the size of the united states. when a country defaults--first of all, a country does everything in its power to avoid a default, and it will engage with interested parties long before a default would actually occur. in order to avoid that default. they would like to negotiate a solution or some kind of alternative scenario. >> pushing off debt. >> yes, proverbial kicking the can down the road? you would find some other solution rather than defaulting on your correct. >> now you think that this is a game of chicken and each side is waiting for the other side to blink first. if we go down this road and the president does not use some form of executive power or there is still some stalemate how does that impact the view of the united states internationally, particularly those who hold the most debt, the chinese and japanese? >> i think it's very problematic if the
. >> every night share undiscovered stories. >> we're back talking about the risks of the debt ceiling. >> jill, you help dea governmens deal with their debt issues. what happens when states go into default? >> usually it's not the size of the united states. when a country defaults--first of all, a country does everything in its power to avoid a default, and it will engage with interested parties long before a default would actually occur. in order to avoid that default....
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Aug 19, 2013
08/13
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FOXNEWSW
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every time there's a continuing resolution, it passes. with a debt ceiling resolution, it passes. under a republican president, democrat presidents. the most profly kated administration before this was the republican administration before it, george w. bush, and for six years, a republican house and republican senate. that did it for me. i thought, let's elect republicans. it doesn't work that way. and even when you look at obama care right now, it's as if we're talking about armageddon to try to defund it. we can't have the fight over it because we might lose seats. well, let me suggest this to the republican party. why don't you propose tripling the spending on obama care, change your name to democrats and you might win seats then. the bottom line on all of these amendments is this. yeah? >> i want you to add one thing. talking about taxing no more than 15% of an income and you want the deadline to file taxes the day before election day. not april 15th. the day before election day. >> i decided to look at a calendar. like the two furthest dates possible are election day and tax
every time there's a continuing resolution, it passes. with a debt ceiling resolution, it passes. under a republican president, democrat presidents. the most profly kated administration before this was the republican administration before it, george w. bush, and for six years, a republican house and republican senate. that did it for me. i thought, let's elect republicans. it doesn't work that way. and even when you look at obama care right now, it's as if we're talking about armageddon to try...
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Sep 7, 2013
09/13
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CNNW
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issue, remember the debt ceiling or issue or whatever it is, but when it's a serious contemplation, an act of war or a response to aggression by the assad regime. everybody is watching how it goes, because many people are reeling from the shock that britain delivered in its parliament when they voted down prime minister cameron in his authority to take action, and the question is who is maintaining the word order? america can play an intrusive role in some of the majorly important interventions and responses that have to be taken. >> one of the big problems facing president obama right now is that many americans are against the military action in syria, and many americans reeling from the wars in a iraq and afghanistan which cost more in blood and treasure than many first estimated and it makes it difficult for the president to rally for support here and abroad. what does this president risk if the united states fails to follow-through on holding the red line? >> you are right, it's unpopular in the united states and unpopular in britain where the prime minister was delivered a crus
issue, remember the debt ceiling or issue or whatever it is, but when it's a serious contemplation, an act of war or a response to aggression by the assad regime. everybody is watching how it goes, because many people are reeling from the shock that britain delivered in its parliament when they voted down prime minister cameron in his authority to take action, and the question is who is maintaining the word order? america can play an intrusive role in some of the majorly important interventions...
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Oct 8, 2013
10/13
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ALJAZAM
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we are going to have an economic problem if we don't raise the debt ceiling. the president has to educate why we can't afford the debt ceiling right now. >> here is the president of the united states, president obama. >> this morning i had a chance to speak with speaker boehner. i told him i was happy to talk to him and other republicans about anything. not gis just issues i think are important, but also issues i thy think are important. i also told him that having such a conversation, talks negotiations should not require hanging in the threats of a government shutdown or economic chaos over the heads of the american people. think about it this way. the american people do not get to demand a ransom for doing their jobs. you don't get a chance to call your bank and say, i'm not going to pay my mortgage this month unless you throw in a new car or an xbox. if you are in negotiations around buying someone's house you don't get to say, well let's talk about the price i'm going to pay. and if you don't give me the price i will burn down your house. that is not how
we are going to have an economic problem if we don't raise the debt ceiling. the president has to educate why we can't afford the debt ceiling right now. >> here is the president of the united states, president obama. >> this morning i had a chance to speak with speaker boehner. i told him i was happy to talk to him and other republicans about anything. not gis just issues i think are important, but also issues i thy think are important. i also told him that having such a...
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130
Dec 14, 2013
12/13
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BLOOMBERG
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the debt ceiling is suspended until every seven. that's what often we expect ysidro progress next week before they break for the holiday? >> in the senate, we can expect to see a few things. we can expect to see a vote on the homeland security nominee on monday and janet yellen confirmation -- janet yellen's confirmation will be next week. looking ahead to 2014, speaker boehner formally invited president obama to deliver a state of the union address on january 28. the president accepted. mark your calendars. >> again, thank you. we will have more on the budget agreement and what might happen in the senate next week. political strategist at atomic research group will join me for analysis and a look into what could be considered a crystal ball at the eye. that is coming up in 10 minutes. let's get you more from al withs extended interview harry reid for tonight's political capital. the elimination of the filibuster will not change legislation. the rule change was necessary. withu have an agreement mitch mcconnell, so you don't need to
the debt ceiling is suspended until every seven. that's what often we expect ysidro progress next week before they break for the holiday? >> in the senate, we can expect to see a few things. we can expect to see a vote on the homeland security nominee on monday and janet yellen confirmation -- janet yellen's confirmation will be next week. looking ahead to 2014, speaker boehner formally invited president obama to deliver a state of the union address on january 28. the president accepted....
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200
Jan 23, 2013
01/13
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CNBC
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eye 200
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president obama agreed to dollar for dollar spending cuts for every dollar the debt cell was raised. it's 22 times we have used the debt ceiling to reinact really substantial reforms. we need those reforms more than ever. the,000 is taking the first step. i hope the senate will do its work and i will push to off-set some of this. >> you don't have a problem with using the debt ceiling as a means to negotiate this. >> i don't. this president won't agree voluntarily to cut a dime of spending and thinks we need more spending, not less. the only time we were able to get him to agree with spending reductions was the last time we were arguing over the debt limit. it's not optimal, not my first choice. i think we have to use whatever tools are available to us. we are on an unsustainable path. the overspending is costing us economic growth and costing us jobs. >> do republicans need a new pr firm or something? if you ask any on the street, why don't we have a budget and what's the problem in washington? nobody says harry reid. do people know that has the way he's running the senate right now
president obama agreed to dollar for dollar spending cuts for every dollar the debt cell was raised. it's 22 times we have used the debt ceiling to reinact really substantial reforms. we need those reforms more than ever. the,000 is taking the first step. i hope the senate will do its work and i will push to off-set some of this. >> you don't have a problem with using the debt ceiling as a means to negotiate this. >> i don't. this president won't agree voluntarily to cut a dime of...
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Dec 13, 2013
12/13
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CSPAN
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i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff resterge issue. the debt ceiling tends to be the early warning system that spending is out of control yet on september 15 of this year the president took the unprecedented and radical action of stating i will not negotiate on the debt ceiling. so is it the position of this administration that if congress does not functionally repeal the debt ceiling and allow the president to spend what he wishes that he is threatening default on our sovereign debt? >> mr. chairman, i would disagree with the characterization of the debt ceiling as an early warning. the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing? >> mr. chairman i think w
i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff resterge issue. the debt ceiling tends to be the early warning system that spending is out of control yet on september 15 of this year the president took the unprecedented and radical action of stating i will not negotiate on the debt ceiling. so is it the position of this administration...
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Oct 8, 2013
10/13
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CNNW
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something to raise the debt ceiling. democrats argue that might be true, but up until the 11th hour and not down to the wire we are right now and as we were two years ago in 2011. i think in their heart of hearts, republicans probably realize that, but you know what? we are in a very different world than we were even two years ago because of the fact that john boehner has gone down this road that he didn't want to go down to begin with, negotiating first on obama care, on the spend bill, and now on the debt ceiling. he really wanted to start off, wolf, with the debt ceiling. he wanted to put all of their eggs in the debt ceiling basket with regard to negotiations and it got a little muddled and i think republicans up here on capitol hill can see that. so that's why they are having a hard time getting back on the message train, if you will, and the president has been very consistent. i'm not negotiating. you know, we have to pay our bills. we have to pass the debt ceiling increase and fund the government. i'm not negotiat
something to raise the debt ceiling. democrats argue that might be true, but up until the 11th hour and not down to the wire we are right now and as we were two years ago in 2011. i think in their heart of hearts, republicans probably realize that, but you know what? we are in a very different world than we were even two years ago because of the fact that john boehner has gone down this road that he didn't want to go down to begin with, negotiating first on obama care, on the spend bill, and...
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Sep 3, 2013
09/13
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CNBC
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ceiling loom larger every day. will the president be forced to make some deals on those issues to win enough votes on syria? peter orszag used to be in the middle of such affairs as white house budget director. he is now vice-chairman of global banking at citigroup and he's back with us today. peter, good to see you. >> good to be here. >> let me begin with syria. the president needs the votes. today, we heard john boehner say he agrees with the president, military action. would there be a scenario where some congressman would say, okay, i'll give you a yes and i will agree with you on syria, but i need some concessions when it comes to the debt ceiling and cutting back on spending? >> well, they may say that, but the question is, where is that middle ground? because it's really hard -- congressman goes to the president says, i'll give you a vote on syria in exchange for delaying obamacare? i don't think so. the question is, what would that congressman or woman ask for in exchange, that the president could actually
ceiling loom larger every day. will the president be forced to make some deals on those issues to win enough votes on syria? peter orszag used to be in the middle of such affairs as white house budget director. he is now vice-chairman of global banking at citigroup and he's back with us today. peter, good to see you. >> good to be here. >> let me begin with syria. the president needs the votes. today, we heard john boehner say he agrees with the president, military action. would...
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Oct 8, 2013
10/13
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then serious negotiations could proceed around every item in the budget. now, as soon as congress votes to reopen the government, it's also got to vote to meet our country's commitments, pay our bills, raise the debt ceiling because as reckless as a government shutdown is, the economic shutdown caused by america defaulting would be dramatically worse and i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they're already experiencing it right now, there's still some people out there who don't believe that default is a real thing and we've been hearing that from some republicans in congress ta default would not be a big deal. so let me explain this. if congress refuses to raise what's called the debt ceiling, america would not be able to meet all of our financial obligations for the first time in 225 years. and because it's called raising the debt ceiling, i think at lot of americans think, it's raising our debt. it is not raising our debt. this does not add a dime to our debt. it simply s
then serious negotiations could proceed around every item in the budget. now, as soon as congress votes to reopen the government, it's also got to vote to meet our country's commitments, pay our bills, raise the debt ceiling because as reckless as a government shutdown is, the economic shutdown caused by america defaulting would be dramatically worse and i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they're already...
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Jan 28, 2013
01/13
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and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and the kind of leadership, you know, we still seem to have this atmosphere where people talk more at each other than trying to find some common ground, some common goal in getting it down. you broach the whole growth of growth and jobs, and that is the answer to all of us. you also talk a lot about contagion on this one. we all sensed that if the european situation got worse, and they represent 23% of world gdp, the effect it's going to have on the united states, india, brazil, it's going to be real. and so with 40% of export coming here to the united states and so forth, all of a sudden we started to see
and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and...
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Oct 8, 2013
10/13
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ceiling. because as reckless as a government shutdown is, the economic shutdown caused by america defaulting, would be dramatically worse. i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they are already experiencing it right now, there are still some people out there who don't believe that default is a real thing. we've been hearing that from some republicans in congress that default would not be a big deal. let me explain this. if congress refuses to raise what's called the debt ceiling, america would not be able to meet all of our financial obligations for the first time in 225 years. and because it's called raising the debt ceiling, i think a lot of americans think, it's raising our debt. it is not raising our debt. this does not add a dime to our debt. it simply says, you paid for what congress has already authorized america to purchase, whether that's the greatest military in the world or veterans benefits or social
ceiling. because as reckless as a government shutdown is, the economic shutdown caused by america defaulting, would be dramatically worse. i want to talk about this for a minute because even though people can see and feel the effects of a government shutdown, they are already experiencing it right now, there are still some people out there who don't believe that default is a real thing. we've been hearing that from some republicans in congress that default would not be a big deal. let me...
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Jan 5, 2013
01/13
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the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit how much the government spends. the current debt ceiling was officially hit on december 31st, but like last time the u.s. treasury is using extraordinary measures to get it through. and sometime about late february or early march, they might. if congress doesn't act by then, the government risks not being able to pay some of its bills. now, as if that's not enough, by march 1st we could be heading off the sequester cliff. that's because the fiscal cliff deal that passed last week put off what to do with government spending for two months. blanket cuts are still mandated by
the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit how much the government...
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Oct 11, 2013
10/13
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ALJAZAM
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with congress preoccupied with the shutdown and the debt ceiling that is not likely to change. joe berg is the executive director of the new york city coalition against hunger. welwellwelcome andwroa. joe. >> tell me what will happen with the lowering of the amount of food stamps. they are trying to disstract the government from what is happening. this november 1st everyone of the food stamp resi recipients n america are going to get a cut. and the farm bill cuts are in addition to that. and the cuts that we are experiencing now as part of the see quesare in addition to that. on a personal level how does it impact them? what does it mean? >> already a clinic in north carolina that serves women and infant and children kids under five. a program that prevented half a million babies at birth soup kitchens in new york city have to ration food and turn people away and serve fewer families and reduce their hours of operation for all of the right wing tal talk let's help, the realities the right wingers have cut aid even to the agencies they claim should be the solution. >> there are
with congress preoccupied with the shutdown and the debt ceiling that is not likely to change. joe berg is the executive director of the new york city coalition against hunger. welwellwelcome andwroa. joe. >> tell me what will happen with the lowering of the amount of food stamps. they are trying to disstract the government from what is happening. this november 1st everyone of the food stamp resi recipients n america are going to get a cut. and the farm bill cuts are in addition to that....
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Jan 21, 2013
01/13
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MSNBCW
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and so the fact that they have backed off both -- not only the idea that we should hold debt ceiling hostage, but second that it shouldn't be one for one cuts, you know, boehner used to say that, the house proposal doesn't say that, dollar in cutting for every dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive step. >> you never get a clean debt ceiling raise. >> yes, you should. >> that's not a question of whether you should. but historically it's not been the case. >> mitch mcconnell proposed it two years ago and we passed it. but let me say this on the budget. we democrats have always intended to do a budget this year. for two reasons. first, it is not true that we haven't had budget control in effect over the last several years. the budget control act of 2011 put rigid spending cuts that are in effect -- that were in effect last year. we cut $1 trillion. we didn't like it. it was much more of a republican type
and so the fact that they have backed off both -- not only the idea that we should hold debt ceiling hostage, but second that it shouldn't be one for one cuts, you know, boehner used to say that, the house proposal doesn't say that, dollar in cutting for every dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive...
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Sep 22, 2013
09/13
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with a simple, usually routine vote, to raise what is called the debt ceiling. since the 1950s, congress has always passed it and every president has signed it trade democrats and republicans, including president reagan. if this congress does not do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. .his is important raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already spent. it does not cost a dime or at a penny to our deficit. in fact, right now our deficits are already following since -- falling at the facet rate since the end of world war ii. deficit bye cut our more than half since i took office. kratz and somema reasonable republicans are willing to raise the debt ceiling and pass a sensible budget. one that cuts spending on what we don't need so we can invest in what we do. with thoseork democrats and republicans on a better bargain for the middle class. but there is also a faction on the far right of the republican party who have conv
with a simple, usually routine vote, to raise what is called the debt ceiling. since the 1950s, congress has always passed it and every president has signed it trade democrats and republicans, including president reagan. if this congress does not do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. .his is important raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already...
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Sep 22, 2013
09/13
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this is done with a simple, usually routine vote to raise what's called the debt ceiling. since the 1950's, congress has always passed it, and every president has signed it, democrats and republicans, including president reagan. and if this congress doesn't do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. this is important. raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already spent. it doesn't cost a dime, or add a penny to our deficit. in fact, right now, our deficits are already falling at the fastest rate since the end of world war ii. and by the end of this year, we'll have cut our deficits by more than half since i took office. but reducing our deficits and debt isn't even what the current standoff in congress is about. now, democrats and some reasonable republicans are willing to raise the debt ceiling and pass a sensible budget, one that cuts spending on what we don't need so we can invest in what we do. and i want to work with those democra
this is done with a simple, usually routine vote to raise what's called the debt ceiling. since the 1950's, congress has always passed it, and every president has signed it, democrats and republicans, including president reagan. and if this congress doesn't do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. this is important. raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress...
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Mar 3, 2013
03/13
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CNNW
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. >> congress is divided over how to raise the debt ceiling. republicans demand some $2.5 trillion in spending cuts. >> no one wants the united states to default on our obligations. but wu won't see real economic growth without a serious plan to deal with our deficit. >> every american is being held hostage by the republican majority. >> the fight goes right up to the deadline. but late on sunday, july 31 z, i want to announce the leaders of both parties in both chambers have reached an agreement. >> the deal has been reached in the debt ceiling debate. >> a last-minute deal to raise the debt ceiling through the 2012 presidential elections. >> agonizing and we all were up late, late last night. emails flying at midnight. >> congress agrees to about $1 trillion in cuts and the creation of a bipartisan supercommittee. its job? to find another $1.5 trillion in cuts. if the supercommittee fails, then indiscriminate across-the-board forced spending cuts would kick in in 2013. the geeky order for it in congress? the sequester. at first, there's relie
. >> congress is divided over how to raise the debt ceiling. republicans demand some $2.5 trillion in spending cuts. >> no one wants the united states to default on our obligations. but wu won't see real economic growth without a serious plan to deal with our deficit. >> every american is being held hostage by the republican majority. >> the fight goes right up to the deadline. but late on sunday, july 31 z, i want to announce the leaders of both parties in both chambers...
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Oct 9, 2013
10/13
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CSPAN2
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out of place though matter how long the timeframe is on the debt ceiling bills that they would -- be the only thing i would say is we are not going to pay a ransom for america paying its bills. that's something that should be nonnegotiable and everybody should agree on that. everybody should say one of the most valuable things we have is america's creditworthiness. this is not something we should even come close to fooling around with. so when i read people saying this wouldn't be a big deal, we should test it out. let's take default out for a spin and see how it rides and i say, imagine in your private life if you decided that i'm not going to pay my mortgage for a month or two. first first of all you are not saving money by not paying your mortgage. you are just a deadbeat. and you can anticipate that will hurt your credit, which means that in addition to the debt electors calling you were going to have trouble borrowing in the future. and if you are able to borrow in the future you're going to have to borrow at a higher rate. well what's true for individuals is also true for natio
out of place though matter how long the timeframe is on the debt ceiling bills that they would -- be the only thing i would say is we are not going to pay a ransom for america paying its bills. that's something that should be nonnegotiable and everybody should agree on that. everybody should say one of the most valuable things we have is america's creditworthiness. this is not something we should even come close to fooling around with. so when i read people saying this wouldn't be a big deal,...
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Oct 12, 2013
10/13
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CNN
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we had the fiscal cliff coming at the end of 2012. 2011, this debt ceiling debate once again, the s&p downgrade, the u.s. rating from aaa to aa-plus. so we have seen this in the past. also, look at that chart, christine. every crisis we've had within about a few weeks to a month, we had a major rally following that. >> is that because the fed is pumping so much money into the system? the fed is the only one operating here. there's so much money sloshing around. >> i think the fed obviously affects that entire long-term chart which is an up trend. i also believe that people when they invest, they invest for the long-term, earnings, and where they believe the economy is going to be many years from now. the problem most investors make, they're basing their long-term investment decisions on this short-term event. the government is not going to be shut down forever. >> i've been hearing money managers say people should be more into cash, especially if you've got really nice double digit returns in your stock portfolio. do you think that this is a time for people to really look at the stock
we had the fiscal cliff coming at the end of 2012. 2011, this debt ceiling debate once again, the s&p downgrade, the u.s. rating from aaa to aa-plus. so we have seen this in the past. also, look at that chart, christine. every crisis we've had within about a few weeks to a month, we had a major rally following that. >> is that because the fed is pumping so much money into the system? the fed is the only one operating here. there's so much money sloshing around. >> i think the...